Top News on China Crude Oil markets

On the demand end, as temperature rises, outdoor activities and spring travel are increasing, providing support to gasoline demand. Gasoil demand, however, remains weighed down by high prices, which continue to restrain logistics and construction activity. That said, spring plowing in some regions i

China's refined oil inventories are projected to decline significantly through April and May 2026, driven by a seasonal demand surge and tightened supply due to lower refining utilization. Gasoline and gasoil stocks are expected to drop by 1.3 million and 2.65 million tonnes, respectively, as travel

On the demand end, both the gasoline and gasoil demand is projected to be weighed on by high market prices with crude hitting new high, aside the seasonal changes.

Market talk that Sinopec plans to cut refinery throughput by around 10% in March have attracted broad market attention. Given the company's refining capacity of roughly 5.2 million barrels per day, the implied reduction exceeds 500,000 barrels per day.

On the demand end, the gasoline demand has gradually fallen to normal levels post the Chinese New Year holiday travel peak. For gasoil, the logistics sector has performed steadily, while the outdoor projects are slow in recovery due to high oil prices.

The Strait of Hormuz closure is disrupting China's refining sector, causing port delays, surging costs, and preventive output cuts of 7-20% at six refineries, with more expected to join in the near future. If the Strait remains shut, deeper cuts are expected post-March. In the meantime, refined oil

A new episode of Mysteel Commodity Flux's podcast, Liao Na, Chief Consultant of Energy Policies and the Founder of GL Consulting (a think-tank team under Mysteel), analyzes the 2026 Qatar LNG shutdown and Strait of Hormuz blockade's impact on China's energy security, revealing 6.7M-tonne LNG buffer

On the demand end, the gasoline demand will likely remain flat post the holiday peak, and the gasoil demand will embark on the uptrend with outdoor projects and logistics services further coming back, thanks to improving weather conditions.

Geopolitical tensions in the Middle East have driven international crude prices higher, lifting domestic refined oil costs in China. Shandong independent refineries led rapid price hikes post-conflict. Downstream panic-buying and improved refinery sales accelerated inventory drawdowns, reinforcing p

On the demand end, the gasoline demand is projected to weaken from the holiday peak, while the gasoil consumption will likely resume with logistics services and some engineering projects restarting post the CNY holiday.